Brown announces tax plan

The governor says in an open letter that the state's financial condition is much better than a year ago, noting that the budget deficit has been sliced by more than half. The bad news is that all those cuts are decimating schools and universities. His ballot measure - filed today with the Attorney General's office - would generate $7 billion for education through a temporary tax increase on the wealthy and a temporary 1/2-cent increase in the sales tax. "The stark truth is that without new tax revenues," writes Brown, "we will have no other choice but to make deeper, more damaging cuts to schools, universities, public safety, and our courts." By the way, the triggering of automatics spending cuts, which is expected to happen this month because not enough tax revenues are coming in, is opposed by nearly two-thirds of Californians surveyed in a Field Poll. That includes majorities of Democrats, Republicans and independents.


More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent California stories:
Volcanic cinder in Owens Valley
Holiday shopping: On your marks, get set... spend!
14 California bookstores in nine days
Uproar over health care sites could be settling down
BART strike to end Tuesday in the Bay Area

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner


Advertisement
Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook